Apollomics (NASDAQ:APLM) Stock Breaks Below 200-Day Moving Average – Here’s Why

Apollomics Inc. (NASDAQ:APLM) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $19.01 and traded as low as $19.00. Apollomics shares last traded at $18.72, with a volume of 45,700 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Apollomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. Wall Street Zen raised shares of Apollomics to a “hold” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Apollomics Stock Up 14.6%

The firm’s 50 day moving average price is $22.68 and its two-hundred day moving average price is $18.99.

Insider Activity at Apollomics

In other Apollomics news, COO Yi-Kuei Chen purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $15.00 per share, with a total value of $300,000.00. Following the purchase, the chief operating officer directly owned 121,248 shares in the company, valued at approximately $1,818,720. This trade represents a 19.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hung-Wen Chen purchased 270,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $13.15 per share, with a total value of $3,550,500.00. Following the completion of the acquisition, the chief executive officer owned 418,334 shares in the company, valued at approximately $5,501,092.10. This trade represents a 182.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 583,334 shares of company stock worth $8,250,510.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Apollomics stock. Citadel Advisors LLC purchased a new stake in Apollomics Inc. (NASDAQ:APLM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,664 shares of the company’s stock, valued at approximately $224,000. Citadel Advisors LLC owned 0.48% of Apollomics as of its most recent filing with the SEC. Institutional investors own 19.13% of the company’s stock.

About Apollomics

Apollomics, Inc (NASDAQ:APLM) is a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of cancer. Its research programs are centered on immuno-oncology and precision oncology, with the goal of combining therapies that activate the immune system with treatments designed to target specific characteristics of tumors.

The company’s pipeline includes investigational small-molecule and antibody-based therapies intended for use across a range of solid tumors and blood cancers.